Dollar Tree Analysts Slash Their Forecasts After Q2 Results

Dollar Tree Inc DLTR reported better-than-expected earnings and sales results for its second quarter.

The company posted second-quarter FY23 sales growth of 8.2% year-on-year to $7.33 billion, beating the analyst consensus of $7.18 billion. Adjusted EPS of $0.91 beat the consensus of $0.87.

For FY23, DLTR raised its sales guidance from $30 billion-$30.5 billion to $30.6 billion - $30.9 billion against the consensus of $30.41 billion. The company tightened its FY23 EPS outlook from $5.73 - $6.13 to $5.78 - $6.08.

Dollar Tree shares gained 1.6% to trade at $125.82 on Friday.

These analysts made changes to their price targets on Dollar Tree following earnings announcement.

• Telsey Advisory Group cut the price target on Dollar Tree from $162 to $160. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating.
• Goldman Sachs lowered the price target on Dollar Tree from $158 to $150. Goldman Sachs analyst Kate McShane maintained a Neutral rating.
• Deutsche Bank cut the price target on Dollar Tree from $172 to $162. Deutsche Bank analyst Krisztina Katai maintained a Buy rating.
• Barclays slashed the price target on Dollar Tree from $138 to $128. Barclays analyst Seth Sigman maintained an Equal-Weight rating.
• Citigroup cut the price target on Dollar Tree from $167 to $163. Citigroup analyst Paul Lejuez maintained a Buy rating.

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